Early-retirement wannabe
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The problem with new cars is they're worse than any femme fatale when it comes to allure and have sent many unwary souls down the path to financial oblivion.
Unfortunately my stepson is well down that slippery path and is only just waking up to the fact there are more things in life than driving the latest all-singing, all-dancing German offering. Aged 34, with a wife and new(ish) baby, the reality of paying the best part of £500pm to lease an SUV is starting to hit home hard. They can hardly afford fuel for the wretched thing and can't get out of the lease until next year. Add to that the £900 plus rent they're paying for a 2-bed rabbit hutch semi and...you get the picture. :eek:
All our mutterings about maybe giving up some of their exotic holidays, pension planning, getting a mortgage and generally having a firmer foundation before their planned pregnancy fell on deaf ears; their only practical planning for the baby involved changing their vehicle from a saloon to the large petrol-guzzler. Naturally, the leasing company was more than willing to allow them to upgrade at an increased monthly payment. :mad:
All this aside, what really floored us was his comment that it'll all come right in the end when he inherits property from us and various other relatives. It's one hell of an assumption, especially as he has two brothers and various step-siblings who might also be expecting an inheritance - and not least because his father (my husband) is a committed SKI-er, who was brought up in a children's home, held down three jobs to put himself through college, and has never received anything for which he hasn't worked.
Sorry, bit of a rant there, but you might be able to understand our shock at being viewed as future cash cows.
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DancingBadger wrote: »
but you might be able to understand our shock at being viewed as future cash cows.
I wonder if my son regards me as a current cash cow as he was suggesting a serious use of bubble wrap - I bruise very easily! So current cash cow to keep him in the style to which he is accustomed followed by the future cash cow to maintain that style after I am gone. I guess the longer I live the longer the future cash will last. Maybe I should change my will!0 -
DancingBadger wrote: »The problem with new cars is they're worse than any femme fatale when it comes to allure and have sent many unwary souls down the path to financial oblivion.
Unfortunately my stepson is well down that slippery path and is only just waking up to the fact there are more things in life than driving the latest all-singing, all-dancing German offering. Aged 34, with a wife and new(ish) baby, the reality of paying the best part of £500pm to lease an SUV is starting to hit home hard. They can hardly afford fuel for the wretched thing and can't get out of the lease until next year. Add to that the £900 plus rent they're paying for a 2-bed rabbit hutch semi and...you get the picture. :eek:
All our mutterings about maybe giving up some of their exotic holidays, pension planning, getting a mortgage and generally having a firmer foundation before their planned pregnancy fell on deaf ears; their only practical planning for the baby involved changing their vehicle from a saloon to the large petrol-guzzler. Naturally, the leasing company was more than willing to allow them to upgrade at an increased monthly payment. :mad:
All this aside, what really floored us was his comment that it'll all come right in the end when he inherits property from us and various other relatives. It's one hell of an assumption, especially as he has two brothers and various step-siblings who might also be expecting an inheritance - and not least because his father (my husband) is a committed SKI-er, who was brought up in a children's home, held down three jobs to put himself through college, and has never received anything for which he hasn't worked.
Sorry, bit of a rant there, but you might be able to understand our shock at being viewed as future cash cows.
Tell the bum you’re leaving it all to the donkey sanctuary and its time to grow up.0 -
Just been told today that my role will move 30 miles outside London from 1/7/18. I left it with them to see what flexibility is available as it would currently double the cost of and add several hours to my weekly travelling.
If needs be I could just walk away but I'd rather not do that just yet.
It's turning into a right pain in the rear.
Currently down to London on Monday and into the office around half nine. Friday leave around half four and back home around 8:15pm.
New location I won't get to until around 11am and they they are insisting I leave after 4pm so that could mean getting home after half nine. Also doubles the travel on the other days from around 45 mins each way to 90 mins each way.
"What's the point?" Is what I'm starting to think.0 -
Similar to my predicament, although I would have expressed my sentiments in slightly fruitier language than your "what's the point".It's turning into a right pain in the rear.
Currently down to London on Monday and into the office around half nine. Friday leave around half four and back home around 8:15pm.
New location I won't get to until around 11am and they they are insisting I leave after 4pm so that could mean getting home after half nine. Also doubles the travel on the other days from around 45 mins each way to 90 mins each way.
"What's the point?" Is what I'm starting to think.
I travel down last thing at night Sunday then (usually) back Thursday night; wfh Friday.
In your predicament, and obvs depending on your role and the extent to which you can work remotely, then I'd suggest the following compromise:
1. leaving home the same time Monday morning. if your new travel gets you there by 11am then "so what"? (I travel Sunday night, because (a) its hugely cheaper (b) I can cram much more into a working day on Monday (whoopee) (c) muppet colleagues and clients keep insisting on booking meetings Monday morning.
2. move nearer the new office (at least during the week). I don't know if you are renting in central London or have a crash pad, or stay with family. I would be tempted to rent v new the new location, rent out the central location room (if owned) and cut the daily commute right down. Bonus: if 30 miles out of London, it'll be significantly cheaper to rent / buy.
3. insist on a shorter Friday, OR compressed working week OR home thurs and WFH Fri. Pre 4pm Fri departure is quieter and hugely cheaper, for starters.
It all depends on your FU attitude; whether you need the work or can take -it-or-leave-it.
I need it.
Sadly.0 -
Remote working isn't an option apparently even though all my work is done on screen.
They also insist "not before 4pm" on Friday.
I rent a room during the week. You would think the new location would be cheaper but it looks like it'd be similar to now - I get quite a reasonable rate now and the new location isn't cheap.0 -
DancingBadger wrote: »
All this aside, what really floored us was his comment that it'll all come right in the end when he inherits property from us and various other relatives.
Sorry, bit of a rant there, but you might be able to understand our shock at being viewed as future cash cows.
Plan on making him wait. My great uncle didn't inherit from his mother until he was 84.1 -
DancingBadger wrote: »only just waking up to the fact there are more things in life than driving the latest all-singing, all-dancing German offering.
German cars seem to be bought in memory of the fact that decades ago they were particularly well put together. But Japanese and Korean cars have been much superior value for quite some time. When finally the world acknowledges this fact will the German economy get a nasty shock? Will a whiff of world recession be amplified in Germany? Sell euros?Free the dunston one next time too.0 -
DancingBadger wrote: »The problem with new cars is they're worse than any femme fatale when it comes to allure and have sent many unwary souls down the path to financial oblivion.
Sorry, bit of a rant there, but you might be able to understand our shock at being viewed as future cash cows.
After my first car purchase I learnt very quickly that monthly payments for cars was a waste of money, always bought second hand since then, I admire lots of cars but I always stick to the same criteria- economical, reliable, room for the dogs and within budget.
We are definitely not viewed as potential cash cows, we were very explicit with my sons and our nieces (our potential heirs) that we've worked hard for what we have and hope to enjoy it when we retire, if they are lucky they'll each get an equal share of whatever is left but not to bank on it as no one can predict the future and we do intend to make the most of what we have, possibly including equity release if that makes sense for us!
I'd be very clear with your stepson- don't bank on our deaths bailing out your lifestyle!CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!0 -
Room for the dogs, plus the teen, is what dictates our car. They are big so it has to be. I did buy it at 11 months old so someone else took the first depreciation hit and will run it till we don!!!8217;t have big dogs any more (or the teen is an adult).
My mum has always said that !!!8216;you can!!!8217;t take it with you!!!8217; so DD knows how we all consider retirement. She will get something but not at the expense of our own comfort in old age - how it should be.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
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All views are my own and not the official line of MoneySavingExpert.0
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